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STR Global: Asia Pacific hotel results for May 2015

June 27, 2015 Statistics & Trends No Comments Email Email

Hotels in the Asia Pacific region experienced mixed year-over-year results in the three key performance metrics during May 2015 when reported in U.S. dollars, according to data compiled by STR Global.http://www.lagunaphuketgolf.com/

The region’s occupancy for May increased 1.4 percent to 68.1 percent. However, average daily rate in the Asia Pacific region dropped 6.9 percent to US$105.54, and its revenue per available room decreased 5.7 percent to US$71.84.

Performance by country varied significantly on a local-currency basis:

Thailand reported the largest increases in occupancy (+22.9 percent to 68.3 percent) and RevPAR (+20.9 percent to THB2,151.01). ADR in Thailand was down 1.6 percent to THB3,150.54. Thailand’s performance continues to improve in year-over-year comparisons, most notably in Bangkok, as the country is further removed from last year’s coup d’état.

Myanmar experienced the steepest decline in occupancy (-27.4 percent to 41.4 percent) and RevPAR (-26.4 percent to MMK69,522.58). The country continues to be affected by a significant amount of new supply in the market.

French Polynesia posted the largest increase in ADR, rising 16.2 percent to XPF40,657.53. Japan followed with a 12.9-percent rise in ADR to JPY14,666.02.

South Korea reported the largest decrease in ADR, down 6.9 percent to KRW184,206.00.

Japan (+16.2 percent to JPY12,223.56) and French Polynesia (+15.8 percent to XPF28,762.75) also posted double-digit increases in RevPAR.

According to STR Global analysts, the devaluation of the Japanese Yen has made Japan a cheaper option for travellers.

South Korea (-13.4 percent to KRW129,804.99) and Maldives (-10.6 percent to MVR5,257.00) were the two markets in addition to Myanmar to report double-digit drops in RevPAR.

Highlights from key market performers for May 2015 in local currency (year-over-year comparisons):

  • Bangkok experienced the largest occupancy increase, up 31.6 percent to 71.6 percent. Three additional markets saw double-digit increases in occupancy: Hanoi, Vietnam (+22.8 percent to 72.3 percent); Sanya, China (+16.1 percent to 52.8 percent); and Phuket, Thailand (+14.1 percent to 60.5 percent).
  • Ho Chi Minh City, Vietnam, recorded the largest decrease in occupancy, dropping 8.5 percent to 59.1 percent.
  • Osaka, Japan, reported the largest ADR increase, rising 24.5 percent to JPY15,667.06. Tokyo, Japan (+12.2 percent to JPY18,345.00), posted the region’s other double-digit increase in ADR.
  • Affected by a continued drop in government spending, Hong Kong experienced the only double-digit ADR decrease, down 15.6 percent to HKD1,501.49. The Occupy Central campaign and anti-Mainland tourist activities also have played a role in the negative performance in Hong Kong, according to STR Global analysts.
  • Bangkok (+35.8 percent to THB2,223.22) reported the largest increase in RevPAR, followed by Osaka (+31.0 percent to JPY14,042.75).
  • Hong Kong (-21.5 percent to HKD1,181.73) experienced the largest RevPAR decrease. Two other markets reported double-digit declines in RevPAR: Seoul, South Korea (-15.1 percent to KRW146,571.12), and Kuala Lumpur, Malaysia (-10.1 percent to MYR217.37).

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